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Daelim Industrial ’s planned acquisition of Cariflex from US-based Kraton for some $530 million will leave its credit ratings unaffected, analysts wrote in a note Nov. 1. Moody’s Investors Service said the acquisition and the subsequent reduction of financial buffer will not either immediately ...
Lotte Chemical said on Oct. 30 its US subsidiary Lotte Chemical USA plans to secure $816.5 million as it agreed to transfer a 34.8 percent stake in LACC, a joint venture dedicated to a petrochemical project in Louisiana, to Eagle US 2. LACC is an 88-12 joint venture between Lotte Chemical USA and...
Korea Seven, the South Korean operator of convenience store giant 7-Eleven, has decided to merge the convenience store chain subsidiary Buy The Way and automatic teller machine operator Lotte PS Net. The merger will be complete by January 2020, according to a regulatory filing on Oct. 29. Followi...
South Korea’s credit card company Hyundai Card said Oct. 29 it will acquire a 50 percent stake in Vietnamese consumer finance institution Finance Company Limited for Community (FCCOM) for 49 billion won ($42 million). The financial arm of Korea’s No. 1 carmaker Hyundai Motor will acquire the s...
Kiwoom Asset Management is close to a takeover of Franklin Templeton Trust Management, industry sources said Oct. 25. Since Samsung Active Asset Management dropped its plans to create new joint venture Samsung Franklin Templeton in South Korea in August, 17 months after the two parties signed an a...
CJ CGV, South Korea’s leading multiplex, is expected to sell 25 percent of its Southeast Asian business as it seeks to solve a cash crunch, industry sources said on Oct 21. CJ CGV, listed on the primary Kospi board, said on Oct. 21 in its answer to investors’ request to clarify media reports tha...
South Korean artificial intelligence startup Sualab has been acquired by Nasdaq-listed Cognex, the companies said Oct. 18. With a price tag of $195 million, Cognex will take up the entire company and its intellectual properties. “Deep learning will enable Cognex to solve many challenging inspe...
South Korean kids contents and intellectual properties company CarrieSoft seeks to raise 8.2 billion won ($6.9 million) in its second initial public offering attempt before listing on Kosdaq, the startup said on Oct. 17. The news comes as a result of oversubscription by institutional investors in ...
The approval process for proposed mergers and acquisitions between South Korean telecommunication firms and cable network operators is dragging on. At an Oct. 16 meeting, antitrust body the Fair Trade Commission postponed the approval of a major deal amid lingering controversy about the cross-selli...
South Korean clothing maker Sae-A Trading will buy Tailim Packaging ’s controlling 60.5 percent stake for 213.8 billion won ($180.3 million) from IMM Private Equity, Tailim said on Oct. 15. According to a regulatory filing, IMM Private Equity and Sae-A agreed Oct. 15 on the deal involving some ...
South Korea’s largest mobile-gaming company Netmarble was chosen as the preferred bidder for Woongjin Coway on Oct. 14. The board of Woongjin Thinkbig which owns 25.08 percent stake in the rental company has approved the sale. Netmarble has reportedly offered about 1.83 trillion won ($1.54 millio...
Lotte REIT on Oct. 11 wrapped up its blockbuster initial public offering to raise a combined 429.9 billion won ($362 million) before Kospi listing, as newly issued shares were oversubscribed to retail investors. The better-than-expected response overshadowed concerns on the mega IPO of a real esta...
NetMarble, South Korea’s leading mobile game maker, made a rare move on Oct. 10 -- bidding for rental company Woongjin Coway. The news of the unexpected bid pushed up the share price of Woongjin Coway by as much as 22 percent in morning trade on Oct. 11. Woongjing Thinkbig, which is selling 25.08 ...
South Korean game software developer Netmarble and private investment house Bain Capital have reportedly joined the final bidding round for stake in water purifier rental firm Coway . The news came after strong contenders had walked away from the bid for 25.08 percent stake, which Woongjin Gro...
South Korean credit card company Hyundai Card has embarked on a process to select investment banking houses to underwrite its initial public offering, the company said Oct. 8. “Hyundai Card handed out requests for proposals (for the IPO underwriting) on Oct. 7 in the evening,” a Hyundai Card spo...
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